AutoZone NNN Ground
New
For Sale
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2101 Oregon Avenue, Philadelphia, PA 19145
An absolute triple-net structure carries no landlord responsibilities under the stated lease terms.
Property Size6,030 SF
Price / SF$382.22
Days on Market5
Property Features for 2101 Oregon Avenue
General Information
Standard status
Active
Size
6,030 SF
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
SIG Sands Investment
Listed By:
Griffin Reath · License #RS369784
Source:
Crexi
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 2:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SIG Sands Investment
Investment Insights
Based on property information with market context.
The property at 2101 Oregon Avenue in Philadelphia is a 6,030-square-foot AutoZone location. It is subject to an absolute triple-net ground lease, with no landlord responsibilities stated. AutoZone carries an S&P rating of BBB, and more than eight years remain on the lease term.
The property may be acquired on its own or alongside other assets in a portfolio.
The property may be acquired on its own or alongside other assets in a portfolio.
Key Highlights
- 6,030 SF AutoZone location at 2101 Oregon Avenue, Philadelphia
- Absolute triple‑net ground lease with no landlord responsibilities
- 8+ years of remaining lease term
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,152
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,363,040
$1.4M
Cap Rate 7%
$973,600
$973.6K
Cap Rate 9%
$757,244
$757.2K
Market Conditions
NOI Build-Up for 6,030 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$108.5K $18.00/SF
− Vacancy
−$11.2K −$1.85/SF
EGI
$97.4K $16.15/SF
− OpEx
−$29.2K −$4.84/SF
NOI
$68.2K $11.30/SF
Area
Philadelphia, PA
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,363,040
Cap Rate 7%
$973,600
Cap Rate 9%
$757,244
Alternative Uses
Best Use
Retail
$973.6K
$851.9K – $1.14M
NOI $68,152 @ 7.0% cap · market cap 2.96%
Second Best
Industrial
$632.4K
$553.4K – $737.8K
NOI $44,270 @ 7.0% cap · market cap 1.92%
Theoretical Best
Multifamily LT 5
$1.47M
$1.29M – $1.72M
NOI $102,901 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,759
Businesses Nearby
442k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 24%
Groceries 21%
Dining 21%
Superstores 14%
BJ's Wholesale Club
Superstores
62,207 visits/mo
0.4 miles
ACME Markets
Groceries
39,662 visits/mo
0.2 miles
PetSmart
Shops & Services
29,416 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
27,938 visits/mo
0.3 miles
Ross Dress for Less
Apparel
27,736 visits/mo
0.3 miles
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Philadelphia, PA
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Frequently Asked Questions
What type of property is this?
NNN property - An absolute triple-net structure carries no landlord responsibilities under the stated lease terms.
Where is this nnn property located?
The property is located at 2101 Oregon Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $2,304,762.
What are key features of this property?
This property features: 6,030 SF AutoZone location at 2101 Oregon Avenue, Philadelphia; Absolute triple‑net ground lease with no landlord responsibilities; 8+ years of remaining lease term
